juliette: bloomberg is being told president trump will name jerome powell as his choice to succeed janet yellen. he tweeted that is decision should impress observers, and he will make the announcement at 3:00 p.m. eastern. fomc reinforced expectations of a rate hike in december by upgrading its assessment to the u.s. economy. policymakers left rates unchanged, but changed the wording of the statement. in september, they said the economy was expanding moderately. now they use solid to describe growth.

china's hna group is offering the country's most expensive short-term dollar bond as it struggles with soaring finance costs and maturing debt, withholding a 363 day bond at 9%. global news 24 hours a day, followed by more than 2700 journalists and analysts. this is bloomberg. let's take a look at the markets, trading getting underway in hong kong and china. chinese stocks ever treated. the shanghai, up ice extents of 1%. up by 6/10ghai comp of 1%. this is bloomberg. ♪

emily: i am emily chang, and this is "bloomberg technology." coming up, facebook's third come -- third-quarter numbers shred expectations with the fallout from the tech industry. bloomberg has the numbers and mark zuckerberg's warning about profitability. tesla also reported third-quarter results with disappointing numbers. we will review the production setbacks for the highly anticipated model three. a bigger picture emerges with the sophistication of expertise behind russia's influence campaign. we will show you use some of the ads is by kremlin sponsored hackers and the fiery exchanges as we wrap up day two of tech hearings in washington. to our lead. facebook recording another quarter of record sales despite a tough week on capitol hill. shares climbed to a record just before the earnings report and are trading slightly higher in extended trading. revenue rose to more than $10 billion in the period far above

the top range from expectations. not bad for a quarter that was dominated by reports that russia allegedly used the social network to meddle in the election. in a statement, mark zuckerberg said facebook is serious about blocking abuse, stating, we are investing so much insecurity that it will impact our profitability. protecting our community is more important than maximizing our profits. the company also said they plan to double the amount of people working on safety and security to 20,000. joining us now to discuss, david kirkpatrick, ceo of techonomy effect," as well as debbie williams, i want to start with you. how significant do you think this is that mark zuckerberg is saying these security concerns will impact profit? >> at emarketer, we are more about looking at revenue. you mentioned at the top of the

newscast, this shredded the expectations. they shredded ours as well. for us, it is all about revenue up and to the right. everything they have reported this quarter is higher than we anticipated. emily: that said, david, you have taken a slightly different tack today, expressing concern about facebook shares, whether they will continue to go up as a result of all of this controversy. what is your take, seeing the results? david: facebook shares have a lot of reason to be strong. the very success of the russian effort put probably reassure advertisers that facebook is the right place to advertise. they are not going to stop magnetically attracting more and more ad dollars. the question is, how much are they willing to spend and how much social capital are they willing to spend and reputational capital to do the

right thing? i think they really have to step up and take a fundamentally different attitude for their role for society. it goes way beyond election meddling. i have not seen that yet. emily: would you agree? >> no, i think this whole story is hypocritical. the cia has been doing the same thing all across the globe. the idea that the united states can do things but russia is evil for doing the same things is ridiculous. the big mistake was by president obama when he declared russia and vladimir putin was our friend and ridiculed mitt romney for predicting all of this. if the president of the united states thinks they are our friend, why should facebook think they are evil? emily: but now that we have evidence, do you think they should do anything about it? >> i think they should do the same thing that tv does. they should be subject to the same laws, rich -- which require transparency. they do not allow foreign agents to buy ads to intentionally affect the elections, the federal elections, but that is a very small category. it is not really what people are

talking about. the news came out that russia spent about $48,000 on facebook , which is a rounding error. for facebook and even for the clinton and trump expenditures. together they spent $81 million. russia spent $46,000. it was the most efficient or -- the most efficient $46,000 in the history of advertising. emily: what is your response, david? david: i think what he said about the cia is right, but it is besides the point. these companies have a social weight that a commercial enterprise has never had in america or the world, and don't really have a governmental regulatory or citizen response to that. political meddling is just one piece. senator warner today named a number of things that are are equally problematic, financial scams, other fraud, meddling of various social behavior. this is not going to stop even if the whole russia thing went away tomorrow.

facebook would be facing massive questions about its future as a platform for the public debate, and why a company should be the one making decisions about what happens. emily: keith, mark zuckerberg speaking now on the facebook earnings call. says they are working with congress on legislation. even the company is taking some responsibility. keith: i don't think they will support any radical legislation. they may allow some incremental transparency. i think facebook should require real-world identity. i think facebook's success is predicated on real-world identity. i think stamping out fake accounts is a very good thing, and it is something users would expect. but i don't think facebook should be subject to any incremental regulation that does not apply to tv, newspapers or billboards. emily: we got the first hint today from facebook's testimony, the testimony of the lawyers that instagram was also affected. what sort of significance to you

think this will affect with the other businesses under the facebook umbrella, whether it is instagram or whatsapp? >> it was new news that instagram came into this. i think it is possible we will see other platforms involved as well. i have to say though there is a lot going on. everything is new, and it is always exciting to watch what facebook is doing and what role they are playing. i think the debate over facebook is not going to end with this russia investigation. but i do agree that there is a lot that facebook has to in terms of its role for society and its role for helping people understand what is news and what is not news. there are many, many things going on that we will see over the coming months related to facebook and all its companies. emily: mark zuckerberg just said

that he is dead serious about the russia problem. >> he should be serious, but ultimately users are voting with their feet. they want to share this. facebook should be enabling users to share what they want to share. the national inquirer has also existed for 50 years. facebook has become the online version of "the national enquirer. most of what they say is totally fabricated or false. people like to buy it and read it, similar to how they share stories of facebook. people like to be entertained. if you are a serious news platform, you may have to make some editorial judgment. that is not what facebook users are getting. emily: keith, you are sticking with me. david, i will give you my last words. david: i think they have to behave as a media company, which they continue to resist. the one thing i really agree about is they should double down on making sure people are who they say they are. that has been a fundamental

design feature of the service. but interestingly when they were were at the committee hearing, -- that is problematic because they do not like to knowledge how many fake identities actually do exist on facebook which is many tens of millions. emily: all right, david kirkpatrick, debbie williams, thank you both. keith, you are with me for the hour. coming up, test learnings. we will break down the numbers next. this is bloomberg. ♪

emily: shares of tesla falling in late trading after reporting third-quarter results. the company delaying a target

for their critical model three production. production setbacks led to record cash burn. tesla now expects to make about 5000 of those cars by the first quarter of 2018 rather than by the end of the year, a big disappointment for investors. joining me now is a reporter who covers all things tesla. what happened? elon said they were going to be hell bringing the model three to market, but now it sounds like they are not going to make it. >> elon was camping at the giga factory. it seems like they are still having a lot of problems at the giga factory. there is a delay of at least a quarter before they are going to start hitting their target. emily: do we have any details on what the problem could be? >> they are having challenges with the battery pack assembly. as they ramp up reduction, things may shift. -- production, things may shift. it is not the most confidence inspiring shareholder letter in terms of production. emily: what about it when it

comes to record cash burn? >> record cash burn. they are going to continue to have cash needs as a company. emily: they have been talking about layoffs. >> there is a distinction between layoffs and firing. they clearly got rid of several hundred people, but they have never given a number, and typically you would not do that when you are on a big rant. that will probably come up on today's call. emily: which positions? >> it was across the board. a lot of it was solarcity, because they acquired that last year and they are no longer doing door-to-door sales. it was across the board. emily: when it comes to the model three, what kind of information are you getting as to when? that the getting initial ramp is delayed by at least a quarter. they initially wanted to make 5000 cars per week by the end of this year, and they say now that will be late 2018. if you initially ordered a model three, you're going to wait even

longer. that is dicey for tesla, because a lot of people are not going to want to wait. there are still tons of reservations, but eventually you're going to need to drive a car. emily: we know elon musk is audacious, but why push the schedule if it is indeed going to be so difficult to meet? >> i think he has big ambitions that he wants to solve, this challenge of climate change in a hurry. this whole sort of ramp up was pushed forward because demand was so strong. now there is the us -- there is the opposite problem where there is lots of demand, but they have not been able to make the car. emily: how does the solar roof fit in? >> the solar roof is still slowly happening. there is apparently more demand for the energy products. they talked about sending this to the puerto rico and how they will be growing part of the story going forward. right now investors just want to see model three on the road. emily: what about the model s and model x? they are seeing record demand

and seeing record sales in the fourth quarter. they have not cannibalized their current product yet, which is good. emily: i know you will keep us posted. thank you. coming up, the senate and house over possible russian interference in the 2016 election. we will speak to one of the representatives of the house intelligence committee. this is bloomberg. ♪

emily: we continue to cover earnings with gopro. shares are falling. earnings shadowed their first record profit -- recorded profit in two years. the cost cuts are helping turn around the business after a difficult 2016 riddled with production delays and the closing of the media and entertainment unit. as we mentioned earlier, facebook, twitter, and google on appeared before the house

intelligence committee today to answer lawmakers about possible russian interference in the 2016 election. i spoke to the republican representative from utah who serves on the committee and asked him if he was satisfied with the response the committee got from the lawyers. >> generally we are satisfied, and they have an enormous challenge. when you look at how the russians so brilliantly were able to manipulate public media and public opinion, they did it in such a divisive way, and they have a enormous challenge in trying to identify that. i think the executives we have before us were very honest with their answers, but it is not going to be easy. emily: do you buy the response that it is too technically difficult to tell users that they were served russian ads and russian posts? >> i don't know if i can answer that with authority. i don't want to disagree with

them. i don't want to say they were not being honest. i think the answer is insufficient. if what they told us is true, we have to be able to dig deeper. and we havetand, been able to develop policies and tools that will stop that from happening in the future. maybe that is the case now, but it is not sufficient for what we need in the future elections. emily: these companies sent their top lawyers but not top executives. will you be trying to speak to mark zuckerberg or jack dorsey? >> yes, it may be more publicly interesting to see and talk with them. i don't think we would get any different answers. i understand why they sent their lawyers. in some cases, we were asking very technical questions or very difficult questions. i understand they wanted someone else to take the heat and be the public face for this, but i don't know that they would

have told us anything differently. if that is the case, i don't think there is any advantage to bring in mark zuckerberg or any of the others. emily: do you think we will see regulation out of this? >> that is the real question. my question is, they talked about fake news again and again. we are going to identify it, we are going to help the consumers understand this is fake news. i would ask him, what does that mean, and who is going to decide what is fake news and what is not? if you talk to mr. trump, his idea of fake news is very different than someone else's might be. if you are looking for a regulatory answer to this, that is an enormous challenge. i think at the end of the day, you have to trust the american people that they will use some judgment, that they would use a bit of the road -- a bit of their own intellect to determine this. that does not sound right to me.

in that spectrum there are facts, but most of what we may read or view has some degree of opinion. i don't know how you would try to regulate that. i think it would be enormously complicated, and the potential for that to turn into a political tool is very troubling to me. emily: what about government cooperation? >> that is another issue altogether. there are things we can do and should do to further the cooperation between not just the government and private entities, but in many cases these private companies themselves. any times, their own terms will not allow them to share information with each other. i wish they would break down that barrier and be more open -- hey, this person, this customer, this account we have identified as belonging to a russian troll. i would certainly hope they would share that information with each other. the same thing is true between the barriers between the government, especially the federal government and these

private entities. that is the type of information that could be shared and should be shared, and many times right now it is not. emily: we have now seen indictments from the special counsel's russia probe. you are doing your an investigation. where does that stand and what is next? >> the house intelligence committee has been looking at this for almost one year. we started looking at russian interference with the election, and we have tried to stay focused on that. these indictments we saw a few days ago have nothing to do with russian interference. they were financial anomalies that happened years ago. in some cases, the most recent was several years before some of these individuals were associated with the trump campaign. if they did something wrong or if they were truly laundering money, they should be held accountable for that. in the house, we are really focusing on, was there collusion, how do we stop that from happening in the future? how do we protect our elections

? we are a year away from midterm elections. europe is experiencing much of the same thing. how do we assure the american people that foreign entities are not breaking down that trust in democracy and trust in our own elections? emily: what do you need to see from the investigation in terms of evidence to act legally? >> i am not sure how to answer that. if we find evidence there was illegal activity, then we will pursue that. we will write a report, and if necessary we would refer that to the department of justice or in some cases to the special counsel. our primary objective is to report to the american people. we are not a law-enforcement agency. we don't have the tools, and we are not tasked with enforcing the law. our goal is to discover what happened and tell the american people. some people are frustrated. they have been saying collusion

for a long time. that truth is we have not seen evidence of collusion between the trump campaign and russians. but we have seen some other activity that is concerning for us. we will continue to pursue that. and again, as quickly as possible, report that to the american people. they deserve to know. it should not be in 10 years. it should be as quickly as we can well still relevant, and to stop that from happening in the future. emily: my interview there with house intelligence committee member chris stewart. and a reminder, bloomberg lp is developing a global news network with twitter. former inverse ceo -- former uber ceo travis kalanick told board members tuesday that he wants to remove a provision that would prevent him from appointing for members in the future. the japanese company's plan to invest a potential $10 billion has not been finalized.

a final decision is expected soon. coming up, after this week's hearings on capitol hill, what will the future of political online ads be? we will speak to a former executive that helps politicians craft their online presence, next. you can watch us live. if you missed the interview, you can go back to it. you can send our producers a message. this is bloomberg. ♪

juliette: bloomberg is being pickpresident trump will powell as his choice to succeed janet yellen. announcement at 3:00 p.m. eastern time in washington. to favor onlyn gradual hikes and loser financial regulations. is expectedengland to raise interest rates thursday for the first time in more than a decade. however, mark carney has been warned a hike now would be the wrong move. shinzo abe praised the bank of japan's efforts to revive the economy. thatloomberg has been told

the republican tax bill to be released on thursday will impose on u.s.me tax of 12% companies' accumulated offshore earnings held as cash, and 5% for non-cash earnings. amazon and google are estimated to have $2.6 trillion stashed offshore. bloomberg.ching let's have a check it out markets have been faring in the asia-pacific. the philippines at a record high of 1.7%. the regional benchmark index is still holding at these 2007 highs, but it is a mixed picture. insurance stocks falling quite substantially in hong kong and tech, and small-cap and players under pressure as well. there has been a switch out of south korea's kospi.

new zealand close to record highs, up by 4/10 of 1%. the other thing we are watching closely is the movement in the u.s. dollar. there is news bloomberg's hearing that jerome powell could be the next fed chair, and there are concerns still about the tax cuts in the u.s. sending the u.s. dollar lower. you are seeing significant gains coming through in asian currencies. the aussie dollar up i half of 1%, and the kiwi, which had an absolute rally during the session yesterday, is up by about half of 1%. the singapore dollar also looking good. in terms of how the regional index is faring, wti crude holding at about $54 a barrel. a little bit of switch out of consumer staples in financial stocks. have a look at honda shares in terms of japan. they have been rallying.

we have seen good moves coming through after it raised its profit outlook. we are live from london at the top of the hour for "bloomberg daybreak: europe." this is bloomberg. ♪ emily: after weeks of waiting, the public got a look at the alleged russian link ads that appeared on facebook, twitter, and google to influence the election. according to mark warner, there is more to be worried about than just these ads. >> these ads are just the tip of a very large iceberg. the real story is the amount of misinformation and divisive content that was pushed for free on russian backed pages. which was then spread widely on newsfeeds of tens of millions of americans. emily: joining me now to discuss

, a republican digital strategist who worked as a digital political strategist at google, where his team worked with politicians on how they could best use google in their campaigns. also with me, my guest host for the hour. give us a bit of a history on how political advertising has worked on online platforms like google, and how it has evolved. in 2008,lly started the first year when political campaigns and organizations started working with companies like google and building their online presence. it really expanded during my time there, in 2011 and the 2014 election. there were multiple teams that were working with the campaign and agencies on the best way to have online advertising platforms to reach be all through advertising.

emily: do you believe things need to change on how political advertising works and is delivered? >> the biggest take away i had from listening to the hearings is that this is a complex issue. at the beginning, it was focused on the advertising, and i think senator warner and senator burr brought in the national security implications about what was happening. i found a organic side of what these companies are facing. emily: keith, what is your response to that? >> the most interesting thing i saw today was how the ads were on both sides. basically, extremists on both sides. it looked like the russians were essentially trying to ensue chaos, less pro-trump that i had seen before. it looks like they were trying to create a mess of a chaotic environment than what really happened. it is more interesting and more

provocative than the mainstream media has covered so far. emily: some say that the ads are not the problem at all. the broader part of the problem is misinformation. what do you think? >> i think that can be a problem. i think senator warner is probably right, where advertising is a small problem of what people should be talking about in the run-up to the election. the organic posts in the way those are distributed probably be a bigger focus on what people are talking about. emily: reporter there should ale discussion on if google should rethink political contributions. contributed to the campaigns, especially hillary clinton's campaign. is that something you believe they should we consider? >> i think you are running down a pretty slippery slope. i think what is important to focus on is that -- one of the

things i was shocked by was the lack of knowledge across legislators and their staff on how these companies work. i think it is to be a effort to better educate advertisers and views versus organic. i think they can turn to some of the younger members and talk to them about how to better use these platforms. emily: i assume you might agree with that, keith. >> i am surprised, given the hadl of lobbying, that they not really educated the staff and members as much as possible. i did a lot of lobbying on behalf of paypal daca in the day, and we had a thorough understanding of the teams. i think the lobbyists failed them here. there is not as much success as expected.ve one thing critical here is the conservative side of the aisle

is mostly getting allied with the left side of the aisle. the conservatives are nervous about the ideological views google employees giving money to hillary and all the facebook employees being fairly left-wing. they are pushing back on ideological neutrality. what you have is an auto alignment of the hard-core left and hard-core right. they are motivated by different reasons. i am curious to your thoughts on how youtube has, up. -- has come up. the lawmakers have been repeatedly asking why russia today has a channel on youtube. >> as far as i understand, there are cable systems in the united states today that carry that channel. i don't see why they carry that channel and youtube can't. it is completely irrational. emily: what kind of changes do

you think google should consider as a result of these issues, whether it is on google or youtube? >> when i think about the changes that need to happen, especially with 2018, i think there are a few different aspects. some of it is on the company side. i think stewart said it very well in a segment earlier around vigilance and voters looking into what is real and what is not and validating sources online. i think there is definitely a civic engagement at play. i don't think these companies are against disclosure. there is a lot about ftc disclosure and dollar disclosure. it is a interesting way to go. i think companies are looking to work with legislators and regulators on how to do disclosure in a practical way. >> thank you so much for joining us.

keith, you are sticking with me. a reminder, bloomberg lp is developing a global news network with twitter. we continue to monitor a slew of tech earnings coming out. qualcomm reported earnings of $.92 a share, beating estimates for the top and bottom line. the chipmaker still caught in a deepening legal dispute with apple and gave a bullish forecast. coming up, more of our coverage on today's big tex hearings on capitol hill. here is what sheryl sandberg has to say about the future on facebook's earnings call just a few minutes ago. >> we are reviewing technology that will enable us to look more thehe content of the ads, targeting, as well as the appetizer that submits them, as well as tighten our and policies, particularly for those directed at social and political issues. ♪

emily: back to the top tech story of the day. facebook, twitter, and alphabet being questioned about russian interference with the u.s. presidential election. the senate had a lot to say about that. i am disappointed that you are herein not your ceo's, because we are talking about the policies and the policies of the company. it is fine to send general counsel, but i think if you could take a message back to this committee, when we go through this exercise again, we would appreciate seeing the top people who are making the decision. emily: how big of a deal is it that each ceo decided against showing face?

do you think it is a big deal that mark zuckerberg, et al. did not show up? >> i don't think the senate really wanted him to show up. if they wanted him, they would have scheduled them. this was a done deal between the ceo's.staff and the angus king is just speaking for himself. he probably violated a agreement. this happens with companies with ceos to find a convenient date to schedule the hearings. this is totally fraudulent. emily: the bottom line is they still are not done. they could still be asking for them to come to capitol hill. >> i guess with ken walker, they will probably see this for a little bit more, to see these issues a little bit more clearly. probably much more involved with the day to day. emily: jack dorsey was just at a square event. he is definitely not going to be in d.c., and it is telling that

he is running to bank companies -- he is running two companies and only has so much time. >> another point that senator warner pointed out is that there is so much to these investigations that is not over. take a second to listen to what he said today. >> do you believe any of your companies have identified with the full scope of russian active measures on your platform? yes or no? >> our investigation continues. i would have to say no. certainly not with certainty. >> no. we are still working on this. >> we have done a comprehensive investigation, but these are ongoing issues. emily: keith, we still do not know the full extent of this. do you maintain it is not important? >> everybody is being hypocritical and they are showboating. that is why the ceo's were advised to not attend.

it would draw more attention. imagine my parents watching this. they would have turned on football. if the ceo's show up for this, it is very newsworthy and people will tune in to see them. that is not what these companies want. it was a very calibrated decision. they may have to if they continue to mis-play these cards. it was incredibly hypocritical. many people were listening to terrestrial radio then logging into facebook. why are we calling on page companies? you must admit that facebook is a big influence. >> there is no evidence. show me one study in 2016 that it was more or less informed than in american history. >> facebook earnings are high for the third quarter, they talked about having 100 million hours a day watched on youtube. emily: even twitter has more

users. >> but google talked about, we are better than tv. we have more targeted reach. now they are saying the targeting was not that effective. emily: what about posts? in my facebook feeds, i see plenty of posts about facebook candidates. >> do you read them? emily: i see them. >> you look for the baby photos. emily: it is a post coming in euro generated feed from people who you think are your friends, and they have a bigger impact than what you hear on broadcast. friends have the right to share any content they want unless it violates the law of the united states, and nobody in the senate, the house, or america should be trying to stop that. 65 pagesuse put out about the russian bots on twitter. they demonstrated these

companies are flat-footed. twitter has been aware of this problem for a long time. now it seems like congress is waking up to what is happening. think thecebook, i user expectation is that there is a real-world identity, and there is something facebook should do about that. it is inconsistent with the platform's design and the real vision of a company. twitter has encouraged fake accounts to encourage dissidents in various countries. twitter knows it is not the real person, and the expectation is reasonable. emily: what if what they are sharing is fake news? >> i don't think there is a definition people will agree with. i have the right to say hillary clinton is a crook, that is not fake news. if anybody tries to suppress that, this country would be as bad as russia. what about something that

really is fake news, such as how many people died in the las vegas shooting? >> sure. what most people object to is a mix of fact and opinion. emily: i want to ask you one last question. they were asked if there was any overlap in the material posted by the russian troll farms and the advertising. facebook said no. twitter said they have an answer but did not provide the answer. >> that is questionable and remains to be seen. it seems like twitter did find something. they were not ready to prepare it in front of the public hearing. this was the main purpose, to find out if there was collusion . we did not find out that much if there was any sophisticated collusion. >> i think it would be interesting and it is an angle the government should investigate. it is different from someone buying ads or friends sharing something that might be true or false.

twitter executes more slowly than facebook. great to have you. it is not over. i am sure we will be debating this many months into the future. >> coming up, more reaction today. .ig earnings including tesla elon musk saying the model three is a 10 year program, even though most cars stay on the market six to seven years before getting a overhaul. one programming note, tune in for an interview with lloyd blankfein. this is bloomberg. ♪

emily: new york city could very well be home to amazon's second headquarters. according to a new study, the big apple topped the most probable list, due to their mass

transit network. san francisco ranked second. washington, d.c. was third on the list. earnings season is starting to wind down for facebook. today they reported another quarter of record sales. qualcomm with record losses. apple will report its fourth-quarter numbers on thursday, and there is high expectation for the iphone x. here to talk about earnings is tom giles. let's start with facebook. we have been talking about facebook throughout the show, and we have been listening about mark zuckerberg doubling down on this russia problem. >> i know we have been talking about this a lot on the show. we will not go into the details. facebook continues to dominate google advertising. they and google are duking it out with this nice duopoly they

have. the numbers reflect that people continually look to facebook to be the way they reach various audiences. please see this played out in the hearings. actors number of russian knew that you can use facebook in a very sophisticated way to target specific affinity groups. betweentarget people the ages of x and y. enough advertisers around the world are still flocking to facebook. emily: including the russians. russians, a the little too effectively. more people recognize that this is where so many people are spending so much time interacting with each other, making decisions, learning about ill-informed,mes sometimes misinformation, but people are spending a lot of time there, and more people -- that's the other thing we saw today, facebook gained more users.

they are reaching a wide swath of the world's population. emily: that is the conversation about how facebook is and what their responsibility is in the midst of these russian meddling issues. .et's go to elon musk tesla is missing their delivery targets for the model three. tesla just passed $250,000 in cumulative sales. get the skeptics predict that? >> here is the thing with tesla. can they gett, these cars into people's garages? these are very sophisticated cars. if you have written in one, you know what it is like. getting them right -- and he is a stickler for details. the seats, for example. i am always fascinated by the details just in the seat of the car. the door handle.

they are very sophisticated. eating them right and to specifications is always a challenge for tesla. it have to ask this question, as sophisticated as the technology is, people want to think about them as a tech company and not an auto company. if you cannot get the parts and the cars in the right place, all of the advances do not make a difference. emily: even if he is sleeping on the floor of the production line. it seems like this is a battery assembly issue. it is something we are going to continue to monitor. thank you so much for stopping by. that does it for this edition of "bloomberg technology." we will continue to have more reactions to the tech hearings. we will hear from former twitter ceo dick costolo. that is all for now. this is bloomberg. ♪ is this a phone?

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president trump is picking jerome powell. the boe governor has laid the groundwork for rate hikes. many times. with the take action today? if he does it will be the first increase in a decade. anna: fallon resigns. the u.k.'s defense secretary is the first casualty of the sexual harassment scandal engulfing westminster. getting credit suisse earnings. investors focusing on its wealth business. we are live in zurich speaking to the ceo.